1. What is for sale? Certain items of machinery and equipment belonging to Debtor (defined below) and used in the manufacture of industrial abrasive cutting and grinding products (the “Collateral”). The Collateral includes, without limitation, molding presses, mixing equipment, testing equipment and support items.
2. Who is the Debtor? Calumet Abrasives Co., Inc., an Indiana corporation (“Debtor”).
3. Who is selling the Collateral? First Midwest Bank, an Illinois banking corporation (“Creditor”), as the holder and owner of certain credit agreements (including, but not limited to, certain business loan agreements, promissory notes, security agreements and other collateral documents) evidencing indebtedness, and securing payment thereof, owed by Debtor to Creditor.
4. When and where is the sale? The sale will be held on May 13, 2020 at 2:00 p.m. and will be conducted remotely using a call-in phone number which can be obtained as explained below.
5. How to get additional information?
6. What are the sale procedures?
7. Is there additional information of interest to the Debtor? Yes. An accounting of Debtor’s unpaid indebtedness to Creditor that is secured by the Collateral may be obtained by Debtor by inquiry directed to Brian Conti, 8750 West Bryn Mawr Avenue, Suite 1300, Chicago, IL 60631 (708) 831-7263. Creditor reserves the right to seek judgment against Debtor for any and all deficiencies remaining due after said sale and reserves the right to proceed against any other collateral securing payment of the indebtedness of Debtor to Creditor to satisfy such deficiency.
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